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Malinois Company purchased a truck for $50,000 on January 2, 2021.The asset has an expected salvage value of $5,000 at the end of its five-year
Malinois Company purchased a truck for $50,000 on January 2, 2021.The asset has an expected salvage value of $5,000 at the end of its five-year useful life.
1) If deprecation expense of $6,000 is reported in 2024, what deprecation method is Malinois using?
2) If Malinois is using the double-declining balance method of depreciation, what amount of expense would they report in 2022?
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